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20130318
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expertise to this because half of the board members are elected but essentially public emplooees in california and don't have any qualifications for being on the board. they have to make changes legislatively taken care of. gerri: the people getting hurt here, does not necessarily the pension, it is taxpayers. what is the price tag of this? >> here is the thing, a recent report put calpers in the bottom 5% in the country among investment returns several years. this is not right. this is a state that has enormous unfunded pension liabilities and projected 7.5% annual returns every year, they are going to be one of the worst performers. so there is a history really of mismanagement that really needs to be changed, they need professional management. gerri: the problem is how do you tear apart, how do you break away elected officials and the unions themselves because it seems to me the two of them coming together that create this unholy alliance that causes this to happen. >> the real problem is so heavily board is elected by members and basically union friendly, all you need is a co
, we don't do that; right? >> right. we just dig heels in as i said, and i think what the elected officials just fail to observe and do, neil, is just really respect where people are coming from, and, frankly, stop taxes, stop regulations, fewer lawsuits, let's help get small business out of the hole they are in, and it's just a classic example of how very little most of our elected officials understand how a business, a small business is run in america. that's just too bad. neil: all right. we'll watch closely. thank you, all, for your help today. we'll keep a close eye on all the developments and the president's trip and whether this economy is going to go up. tomorrow, a look at numbers you don't really quite see all the time that might beg that issue.y ♪ here's gerri willis. >> good evening, everybody. tonight, a cyberattack paralyzes banks an media companies in south korea. who is behind it? could it happen here? also, putting the brakes on high frequency traders. are they breaking the law and stealing your money? a new policy from one of the country's biggest companies. te
Search Results 0 to 2 of about 3 (some duplicates have been removed)

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